Rent invoices are prepared at the end of each month and rent is paid by the first business day of the month. The invoice is a combination of the static rent costs plus the LPEA electric bill. The reason we pay and invoice for LPEA is to prevent frozen pipes due to delinquent payments from tenants. Rent invoices are provided via email. There will also be a month-to-month lease agreement sent out around the same time.

 

Acceptable Payment Methods:

There are two acceptable forms of payments:

• Checks: Check made out to Hammond Properties. You can either run it up the hill, catch us coming down the hill, or stop by Wells Fargo and have them deposit it directly into our account.
• ACH / Direct Deposit: You can also shoot the check directly to our bank account. If you’d prefer this route, we’ll provide you with the account and routing number.

 

Work Trade-Outs

From time to time, we do accept work trade-outs for any type of maintenance that needs to be done. If the occupant has the skillset to perform the task and would prefer to take on the task, we’d love to allow them to do the work and make some side cash. Here’s some general guidelines for these arrangements:

Get Approval First: Do not provide the work without first bringing the matter up and getting approval. This includes agreement on the compensation as well, whether it’s hourly or for the completion of the project. If material is required, we can acquire it or compensate for it after completion.

Payment For Work: For accounting reasons, we’ll cut a check for the project, and the rent should be paid in full. This means no deductions. It means more moving parts, but it works better for documentation.